theblock.coarticleCoinDCX confirms $16 million loss from retired wallets days after CEO called breach reports a ‘false alarm’
CoinDCX confirmed on 25 October 2026 that 15.99 million USDT (about $16 million) was drained from retired deposit wallets after its automated sweeping service failed and user deposits sat at old, vulnerable addresses. The exchange absorbed the loss and says cold-wallet funds are safe. The report covers CEO Sumit Gupta's earlier "false alarm" denial, ZachXBT's challenge and withdrawal advice, and the July 2025 $44 million hack.
TL;DR Reports CoinDCX's admission of a $16M USDT loss from deprecated deposit wallets, days after its CEO denied a breach.
Organisations named here
- CoinDCX
Technologies named here
- Tether
- CoinDCX automated sweeping service
- CoinDCX retired deposit wallets (old deposit addresses, 15.99 million USDT drained, confirmed 25 October 2026)
Concepts named here
- Deprecated deposit wallets
Threat actors named here
- ZachXBT
Also named here
- Sumit Gupta
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